# Abu Dhabi's FAB shares slide over exposure to fallen Phoenix Commodities

> First Abu Dhabi Bank shares fell after disclosing a $73.2 million total exposure to Phoenix Commodities and related entities. Emirates NBD and Mashreq Bank also disclosed exposures of $23.66 million and $11.7 million. Phoenix Commodities is being liquidated after amassing more than $400 million in potential trading losses.

- Date: 2020-05-13 · published 2020-05-13T12:00:00.000Z
- Category: macro · region UAE · magnitude low
- Page: https://feedsoft.ai/events/7508-abu-dhabi-s-fab-shares-slide-over-exposure-to-fallen-phoenix-commodities
- Commodities: [Rough Rice](https://feedsoft.ai/c/RICE.md)

## Why it matters

This is a banking and credit story with no direct effect on grain, oilseed or feed supply and demand. It has no meaningful implication for feed commodity prices.

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| RICE | 2019-03-22 | [Strong rupee pushes rice prices to seven-month high, dampening exports \| Commodity - Food & Edible Oils - Business Standard](https://feedsoft.ai/events/60167-strong-rupee-pushes-rice-prices-to-seven-month-high-dampening-exports-commodity.md) | -1.6% | -6.0% |
| RICE | 2024-07-19 | [Commodity prices falling for very different reasons - PricePedia](https://feedsoft.ai/events/4977-commodity-prices-falling-for-very-different-reasons-pricepedia.md) | +5.0% | +2.9% |
| RICE | 2019-08-22 | [Rupee slide pushes India rice rates to 7-week low, Vietnamese exports dip](https://feedsoft.ai/events/57671-rupee-slide-pushes-india-rice-rates-to-7-week-low-vietnamese-exports-dip.md) | +3.9% | +13.3% |
| RICE | 2022-12-01 | [Raw material commodity prices retreat as the global economy slows](https://feedsoft.ai/events/8184-raw-material-commodity-prices-retreat-as-the-global-economy-slows.md) | -6.2% | +0.5% |
| RICE | 2019-11-05 | [Strong baht poses challenges to Thai rice farmers](https://feedsoft.ai/events/56135-strong-baht-poses-challenges-to-thai-rice-farmers.md) | +1.7% | +6.5% |

## Sources

- zawya.com: https://www.zawya.com/en/markets/abu-dhabis-fab-shares-slide-over-exposure-to-fallen-phoenix-commodities-ni87y7yn

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.